SpaceX launches largest IPO ever at $135 per share
SpaceX is set to conduct the largest IPO in history on Friday, pricing shares at $135 each and raising approximately $75 billion, valuing the company at $1.75 trillion. Investor demand has reached roughly $150 billion, about double the amount sought. Korean institutions showed intense enthusiasm, with Mirae Asset's first-round subscription selling out within minutes. However, BNP Paribas estimates retail and passive investors may sell $50 billion of other stocks to fund purchases, with the IPO timing near quarter-end when $100 billion in unrelated sales were already expected.
Xi makes first North Korea visit in nearly seven years
Chinese President Xi Jinping arrived in Pyongyang on Monday for a three-day state visit, his first to North Korea in nearly seven years. China accounts for over 90 percent of North Korea's total legal trade, making it indispensable to the sanctions-strangled economy. Kim Jong Un is now seeking to strengthen ties with Beijing following his recent pivot toward Moscow, where he received military technology in exchange for troops supporting Russia's invasion of Ukraine. The conspicuous absence of the word "denuclearisation" from recent official Chinese statements suggests Beijing has effectively accepted North Korea as a nuclear state.
Asian markets rout as tech selloff, rate fears shake investors
Asian stock markets suffered a massive sell-off Monday as tech firms were hammered, with Seoul's Kospi index diving more than 8 percent to lead a rout across the region. The selling came after a stronger-than-expected US jobs report reigniting Federal Reserve tightening fears, and below-forecast revenue guidance from Broadcom sparked worries about AI sector valuations. Samsung Electronics and SK Hynix shed nearly 9 percent and 6 percent respectively. Israel launched airstrikes on central and western Iran, sending Brent crude surging to $96.59 per barrel.
Russian Drone Strikes Spent Nuclear Fuel Storage Near Chernobyl
A Russian drone struck the Chernobyl spent fuel storage facility early Sunday, damaging a container-receiving building and causing a fire that was quickly extinguished. No injuries were reported and radiation levels remained normal. The International Atomic Energy Agency called the incident "extremely concerning," noting the facility contains large quantities of nuclear material stored near the attacked building. This is at least the second attack on nuclear infrastructure near Chernobyl. The strike occurred as Ukrainian President Volodymyr Zelensky met with European leaders in London.
Pashinyan's Party Wins Armenia Election After Military Defeat
Armenian Prime Minister Nikol Pashinyan's Civil Contract party won Sunday's parliamentary election with 57.14% of the vote. The election was Armenia's first since its crushing military defeat by Azerbaijan in 2023 and a test of Pashinyan's push to deepen Western ties and secure peace with Baku. Pro-Russian Strong Armenia placed second with approximately 21%, while former President Robert Kocharyan's Armenia Alliance came third with around 8%. Voter turnout reached nearly 60% of the country's 2.5 million eligible voters. Russia had imposed agricultural import sanctions and criticized the arrest of opposition candidates during the campaign.
Pentagon Raises Israel Spy Threat to Highest Level
The Pentagon raised its counterintelligence threat level for Israel to its highest level, with the Defense Intelligence Agency designating Israel's espionage capabilities as reaching a "critical level." The escalation followed reports that Israel attempted to spy on senior U.S. officials including Trump's chief negotiator Steve Witkoff and Pentagon policy chief Elbridge Colby. The dispute coincides with deteriorating relations between President Trump and Prime Minister Netanyahu over Israel's military actions in Lebanon. The Israeli Embassy rejected the espionage allegations as "completely false."
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- Hong Kong Overtakes Switzerland as World's Top Wealth Hub. Surging high-net-worth spending has boosted luxury retail, with Hongkong Land reporting 16% sales growth and big-spender numbers jumping over 30% in the first four months of 2026.
- China launches maritime operation east of Taiwan. Beijing deployed coast guard vessels after Japan and the Philippines announced talks on delimiting their exclusive economic zones, an area overlapping waters east of Taiwan. Taiwan responded by deploying five vessels to monitor the Chinese ships.
- Zelenskyy Meets E3 Leaders in London as War Escalates. UK, France and Germany convened amid intensifying attacks, including a Russian drone strike on Chernobyl's nuclear facility and a Ukrainian drone attack on St. Petersburg. Putin has rejected direct talks.
- Nvidia to build R&D center in South Korea. Nvidia CEO Jensen Huang announced during a visit to Seoul that the company will establish a research and development center in South Korea, leveraging the country's expertise in AI, robotics, and semiconductors.
- Prada Unveils Cooling Garment for NASA Astronauts. The Italian fashion house revealed a body-hugging Liquid Cooling and Ventilation Garment with ventilation tubes knitted into fabric, developed with Axiom Space for temperature regulation during space missions.